“Music is such an important part of all our lives and holds a special place within our hearts at Apple,” Apple CEO Tim Cook said in a statement. “That’s why we have kept investing in music and are bringing together these extraordinary teams so we can continue to create the most innovative music products and services in the world.”

When rumors of the deal first surfaced, a lot of people didn't understand why Apple wanted to buy the company.

“We could build about anything that you could dream of," Cook told Re/Code. "But that’s not the question. The thing that Beats provides us is a headstart, and it provides us with incredible people, kindred spirits.”

Others thought it was to acquire the talent of Beats cofounders Jimmy Iovine and Dr. Dre, and Beats Music CEO Ian Rogers.

And it turns out there was a lot of truth to that speculation. In fact, Cook said that the deal was a "no-brainer."

Even though Cook said Apple executive Eddy Cue's team could have built a subscription service, the deal was really all about the people and the service.

“These guys are really unique,” Cook told the New York Times. “It’s like finding the precise grain of sand on the beach. They’re rare and very hard to find.”

People like Iovine and Dr. Dre aren't born every day, Cook said.

"They really get music deeply," Cook told Re/Code. "So we get infusion in Apple of some great talent."